administration

[Guest]

this looks to be the final peice of the jigsaw it must be unlikely that they will start the knew season but if they do it looks like it will be British Energy or Kent League

[TonyM]

You know nothing anon,jack s##t.

[MargateFan]

Keep cool, Tony, all the idiots will be coming out to gloat.

Maybe out of all of them we could find one who can spell.

[Guest]

Coming from a club who has gone down this road, all I can say is stick in there, unite and fight.

 

You have won your worst battle with the ground so just carry on supporting. Good Luck.

 

See you all on Monday.

[seasidesteve]

it seems to me that all us fans and mabe the players too have been conned again. thinking we have been fighting relegation when all the time the board must have known this administration was coming and with it 10 point deduction and certain relegation.seems we have all been duped yet again shame on u i think we have deserved better treatment than this

[MargateFan]

Cheers, Harry, you had a CVA I seem to recall when we were groundsharing with you. This we can hold up as proof that we can also come out of this, as you seem to have done. The survival of the club is the paramount thing.

I wish the best for both our clubs, especially on Monday!

[Guest]

So we have all been hoping (praying) the Margate can stay up and all the time there was no possibility of this!!!

 

You ever get the feelin' you've been cheated?

[Guest]

I am afraid to say this is the latest in a long line of actions by the Club led by KP to totally mislead,con,dupe,call it what you like ol Joe Mug public yet again.Whats happened to all the money that was donated,the sale of bricks,bucket collections etc, etc.Other postings show support and praise of KP,but it does not matter how much he has done for the Club,we are now where we are,and it is just not good enough.Where do we go from here?,as usual info from the club will be non existent and probably tomorrow KP willl be surrounded by his clique and informing them all how it is all the fault of every one else. Now this has happened surel <img src="/forum/images/graemlins/frown.gif" alt="" />y those apparentley now at the helm should step down.They have shown they have failed!!!!!!!!!

[TonyM]

Dear anon whoever you are,if you had a money problem you know like bills you cant pay,what would you do.I will tell you what you would do,find a way out of it.This is a way that we can go forward,if it is good enough for Hornchurch why not us,we have got to put MFC first,in no way does this stop us from going back to HDP where we can start again,if on the other hand you think you could do better come along on Saturday night and tell us all how.

[Guest]

All I am saying is that the people in charge of the Club have failed, whether it is through mis management of finances, ill thought out plans,wrong advice or whatever they have not done very well have they.It does not help no body seems to know the actual make up of who ever is running the Club ,finances etc.KP is the only common denominator.THAT IS FACT!! I agree this is probably the only way forward, but it has happened and why it has happened,surely we are allowed to question, and look for answers,because if there is not a change of pesonnel on the top table then we are going to continue going around in circles.No that is wrong, going down and down!!!!!

[seasidesteve]

the fact on who is right or wrong dosnt matter to me i just think weve been conned again by these directors into believing we could stay in this division and that is very wrong

[TonyM]

OK,but I will ask again,are you the person to take this club forward,if you think you are,put up or shut up.

[Guest]

perhaps the club waited until we were relegated before going into administration, thus it doesn't matter if we take the ten point hit now. if they had waited until next season we may have started on -10, and had to struggle from there. surely we can only be penalised once, perhaps its a bit of forward thinking by the club?

[TonyM]

Near enough right bluesfan,it had to happen sooner than later,not that Ryman would have deducted any points anyway.

[Cookie]

There comes a time in many people’s lives when their financial affairs get into a mess. Unfortunately, in this day and age, when just basic living costs so much, all those nice things in life, needed to have a decent lifestyle are so readily available. We are literally bombarded with offers of credit cards, loans, store cards and interest free credit on almost anything we desire.

 

It's so easy to get into debt nowadays. All it takes is an unexpected situation to occur that will put our whole financial situation into turmoil. Most people are honest and do not plan to get into dire financial straits, but it can so easily happen.

 

In 1986 new legislation was introduced that allowed debtors to enter into an Arrangement with their creditors. Prior to this legislation, people with financial problems had no option but to be forced into bankruptcy and suffer the stigma that surrounded it.

 

Why should someone be made to suffer the stigma of bankruptcy for the rest of their lives, just because of one unexpected occurrence? Well now they don’t have to! By making an Arrangement with their creditors, a debtor will be able to write off up to 95% of their debts, (according to their circumstances), and be completely free of debt within 3-5 years, whilst also being able to live a normal life.

 

The Arrangement spoken of above is called an

Individual Voluntary Arrangement (IVA) for personal debts, or a Company Voluntary Arrangement (CVA) for debts of a Limited Company.

[Cookie]

As I see it this is a shrewd move by the club. This must be similar to getting a consolidation loan where you ask a company, for a fee to negotiate with the various companies who are owed money to seek a better re-payment plan. Can someone who does actually know about CVA and Administration confirm that this IS a similar way to sort out the finances to that which the club has sought.

As I see it the 10 points deduction, if affective will do us no harm this year provided they are used up this year. I am in the strong opinion that the club had come up with this idea only as an alternative. Averting demotion I am sure was the clubs first thought but with the fact that relegation may have been on the horizon they got their heads together with this as a back up route. Seems a good way to go I think.

Whilst the debts wont go away it will ease things considerably.

A couple of other things I am unsure of is that if we owe money then can we also spend money at the same time as paying off these debts. The above post says that things can go on as normal with this CVA running alongside. Do we have the right to have an embargo lifted and at the same time fork out for new players. Can we still pay contractors whilst owing money.Is that allowed

Maybe it would be similar to a private person consolidating a loan/loans, and whilst paying them back, at a reduced cost, still have the right to buy things they need without restrictions.

 

Finally, my thoughts do go onto the council. Will they see our predicament and make it even harder for us to achieve the commercial aspect now that we are seen to be in further trouble, though I believe that to be further in trouble is not the correct phrase to use as we are actually in BETTER mode now that the debts are to be consolidated, so to speak. I just worry that the council may see this as a weakness. Maybe they wont and see it, on the other hand, as a step forward to solvency again.

Thats my reading of things anyway,whether I am right or I am wrong I dont know. CVA's and ADMINISTRATION are not my strong point.

I am however trying to see this from all sides.

But my gut feeling is that this is a very positive move on the clubs behalf and maybe a very clever one.

[Bernard MISA]

To all those mysterious anons take it from one who is currently working for a company that is in administration it is not all doom and gloom.

Granted the club is in financial difficulties with a major creditor however administration is the only route forward for Margate Football Club, the only other option would be that the major creditor could apply for the club to be wound up.

 

Have faith, I am sure that this is the beginning of a new dawn.

 

I fully expect Keith Piper to explain in more detail the ramifications of our prospects at tonights party.

[urchinboys]

A sensible thing to do in the circumstances. Good luck and keep the faith! We'll see you soon on your journey back up the pyramid.

[MargateFan]

Cheers for that, Bernard.